Azerbaijani Financial-Sector Accountants to Earn Certification
Azerbaijan’s financial sector suffers from an acute shortage of qualified accountants. A survey conducted in 2006 found a single certified accountant in the Azerbaijani banking industry. The shortage is felt more as banks are required to adopt International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS.) USAID’s SME Support through Financial Sector Development Program recently helped launch a Certified International Professional Accountant (CIPA) program to train financial sector accountants. CIPA is a Russian language program originally developed by USAID to train and certify accountants from CIS countries.
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With the financial support of USAID, six Azerbaijani financial sector accountants have qualified for a Certified Accounting Practitioner (CAP) Certificate.
Photo Credit: ACDI VOCA |
The project fielded an experienced accounting instructor from the U.S. to launch Azerbaijan’s CIPA program and to train financial sector accountants. This initial phase, leading to Certified Accounting Practitioner Certificate, was completed. The Ukraine-based CIPA Examination Network conducted an examination.
As a result of this initiative, six accountants from Azerbaijan’s financial sector have qualified to earn Certified Accounting Practitioner (CAP) Certificate. Several accountants passed individual courses. 16 participants passed Financial Accounting, 14 passed Management Accounting and 12 passed Tax and Law Courses.
Thanks to the American people, through USAID, the project will continue its support to the program during the year 2007-08. It is expected that by the end of the project next year, more than 40 financial sector accountants will have CAP certification.
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